Higher Cost of Education The higher cost of education in Canada is causing many bright students to stop pursuing higher education. Many young children face this problem across the country, where the parents are not prepared to afford the higher education that costs a fortune. With smart thinking and right decisions, parents can prepare themselves for the expenditure.
Financial Programs and Plans For a relief, there are many programs and plans available to the parents that offer financial assistance. Parents need to choose the right plan to save meaningful amount for the future expenditure. The Registered Education Saving Plan is one such plan available to all the parents who are the citizens or the legal residents of Canada.
Registered Education Saving Plan RESP, which is approved by the government, offers low-risk investment opportunities to its subscribers. If you invest with the right service provider, your investment earns great returns and on the maturity of the plan, you get significant amount to afford any education for your children.
Heritage Education Plans The Heritage Education Funds Inc. offers only the RESP plans and is one of the oldest organizations in the country. So far they have helped over 400,000 families to save money for the children's higher education. To create a Heritage RESP, you need to provide the Social Insurance Number and some documents like the birth certificate of your children. Different plans are available as per your needs. You can include multiple children in one active plan.
Published on Jul 24, 2013